22 November 2017
Disaster! Predicted sugar tax revenue drops to just £275m
Today's Budget has revealed that the Treasury are predicting just £275m will be generated from the sugar tax in 2018/19, down from their initial prediction of £520m in March 2016.
The Treasury are relying on the revenue from the unpopular tax to fund school sports and breakfast clubs. This spending pledge becomes more difficult when the revenue from the tax drops.
In March 2016, we were told the sugar tax would raise £520m in 2018/19. Then we were told it would raise £380m, and now we're being told it'll raise just £275m.
Many experts also say that the revenue will drop even more in 2019/20 and 2020/21. Isn't this one of the most pointless taxes of all time?
Chief Executive of People against Sugar Tax